On March 13, 2018, the CFPB issued an updated Small Entity Compliance Guide (SEG) to incorporate recent 2018 changes to the Regulation E Prepaid Card rules which take effect on April 1, 2019.
The Bureau released guidance for completing the short‐form disclosure for prepaid accounts, which includes not only a line‐by‐line how‐to but specifics on the formatting requirements.
The website also contains several quick reference guides, including summaries of the rule changes and key changes for prepaid and payroll cards and a handy coverage flowchart.
While we’ve gotten a reprieve, 2019 is just around the corner. TCA can help you prepare for all the upcoming changes through our webinars and by contacting us at [email protected] or (800) 934‐7347.